Louisiana State Employees Retirement System boosted its stake in shares of Materion Corporation (NYSE:MTRN) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,100 shares of the basic materials company’s stock after buying an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Materion Corporation were worth $272,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new stake in Materion Corporation during the fourth quarter worth approximately $16,167,000. Numeric Investors LLC boosted its stake in Materion Corporation by 22.0% in the fourth quarter. Numeric Investors LLC now owns 89,184 shares of the basic materials company’s stock worth $3,532,000 after buying an additional 16,100 shares during the period. Thrivent Financial for Lutherans boosted its stake in Materion Corporation by 10.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 243,090 shares of the basic materials company’s stock worth $9,626,000 after buying an additional 23,390 shares during the period. AQR Capital Management LLC boosted its stake in Materion Corporation by 19.1% in the fourth quarter. AQR Capital Management LLC now owns 158,775 shares of the basic materials company’s stock worth $6,288,000 after buying an additional 25,505 shares during the period. Finally, Two Sigma Investments LP acquired a new stake in Materion Corporation during the fourth quarter worth approximately $401,000. Institutional investors own 89.98% of the company’s stock.
Materion Corporation (NYSE:MTRN) traded up 1.37% during midday trading on Monday, reaching $36.95. The company’s stock had a trading volume of 126,198 shares. Materion Corporation has a 1-year low of $23.06 and a 1-year high of $41.22. The company has a market capitalization of $738.48 million, a P/E ratio of 32.16 and a beta of 1.16. The company has a 50 day moving average of $35.26 and a 200-day moving average of $36.56.
Materion Corporation (NYSE:MTRN) last released its earnings results on Friday, April 28th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.01. The company had revenue of $240.67 million during the quarter, compared to analyst estimates of $231.58 million. Materion Corporation had a return on equity of 5.50% and a net margin of 2.40%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 earnings per share. Equities research analysts anticipate that Materion Corporation will post $1.50 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 2nd. Stockholders of record on Wednesday, May 17th were issued a $0.10 dividend. The ex-dividend date was Monday, May 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.08%. This is a positive change from Materion Corporation’s previous quarterly dividend of $0.10. Materion Corporation’s dividend payout ratio is presently 34.78%.
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MTRN has been the subject of several research reports. Jefferies Group LLC boosted their price target on Materion Corporation from $30.00 to $34.00 and gave the stock a “hold” rating in a research report on Tuesday, February 21st. Zacks Investment Research cut Materion Corporation from a “buy” rating to a “hold” rating in a report on Thursday, February 23rd.
In other news, insider Richard J. Hipple sold 2,500 shares of the stock in a transaction on Friday, June 16th. The stock was sold at an average price of $36.17, for a total value of $90,425.00. Following the completion of the sale, the insider now owns 77,091 shares in the company, valued at $2,788,381.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard J. Hipple sold 3,000 shares of the company’s stock in a transaction on Friday, March 24th. The stock was sold at an average price of $32.37, for a total transaction of $97,110.00. Following the completion of the transaction, the insider now directly owns 130,602 shares in the company, valued at $4,227,586.74. The disclosure for this sale can be found here. Insiders sold 73,730 shares of company stock valued at $2,523,413 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.
About Materion Corporation
Materion Corporation, through its subsidiaries, is an integrated producer of engineered materials used in a range of electrical, electronic, thermal, and structural applications. The Company operates in four segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other.
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